Equity Duration, Growth Options, and Asset Pricing
نویسندگان
چکیده
منابع مشابه
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The evaluation and control of an agent‘s debt has become a major issue in economics. In this paper we focus on firms and study credit risk, debt control and asset valuation of firms. We demonstrate that firm specific credit constraints and endogenous risk premia, based on collateralized borrowing, affect the asset value of the firm and, in turn, the collateral value of the firm. In order to exp...
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ژورنال
عنوان ژورنال: The Journal of Portfolio Management
سال: 2000
ISSN: 0095-4918,2168-8656
DOI: 10.3905/jpm.2000.319725